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The SEC has authorized Morningstar Credit Ratings to expand its rating capabilities to corporate debt and financial institutions, the organization announced today.
This approval allows Morningstar to focus on areas that include unsecured debt from REITs and private placements, Bloomberg reports. Since parent company Morningstar Inc launched Morningstar Credit Ratings in December 2009, the organization has offered research and robust data to investors, providing ratings on an array of investments.
“[With this new designation], investors will also benefit from the ability to use our ratings to satisfy investment guidelines and determine risk-based capital charges on corporate debt securities,” Morningstar Credit Ratings president Vickie Tillman says.
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